Clinical Nutrition Market to Reach Around USD 61.44 Billion by 2023
Added: (Tue Mar 13 2018)
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According to the report, global clinical nutrition market was valued at approximately USD 43.81 billion in 2017 and is expected to generate revenue of around USD 61.44 billion by end of 2023, growing at a CAGR of around 5.8% between 2017 and 2023.
Clinical nutrition is concerned with diagnosis and treatment of diseases that affect the intake, absorption, and metabolism of dietary constituents. It also promotes health through the prevention of diet-related diseases. Clinical nutrition is the study of the relationship between nutrients and human bodies. It is used to treat malnutrition and disorders which are associated with absorption of nutrients in the body. Clinical nutrition helps in the treatment of various diseases, such as kidney diseases, diabetes, cardiovascular diseases and cancer.
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Demand for clinical nutrition is expected to increase due to the rise in Geriatric population and infants, increase in spending on healthcare, an increase in a number of disorders and diseases. In Geriatric population, health concerns pertaining to metabolic disorders and loss of appetite acts as a driver for the market. Increased intake of junk food is also one of the drivers which increase the demand for clinical nutrition. Lack of awareness about clinical nutrition products and stringent rules by the government may affect the growth of the market.
The clinical nutrition market is segmented on the basis of product type into enteral nutrition, parenteral nutrition, and infant nutrition. Infant nutrition segment is expected to grow at the fastest rate globally over the forecast period.
The clinical nutrition market is segmented on the basis of the type of diseases into nutritional support in cancer, nutritional support in gastrointestinal diseases, nutritional support in neurological diseases, nutritional support in renal diseases, nutritional support in respiratory diseases and nutritional support in other diseases.
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Infant, child, adult, and geriatric are the key end-users of the global clinical nutrition market. The infant segment is expected to dominate the market in the near future.
North America, Europe, Asia-Pacific, Latin America and Middle East & Africa are key regional segments of global clinical nutrition market. The Asia Pacific is anticipated to remain the leading region over the forecast period. In the Asia Pacific, many countries have a high birth rate, due to which there is an increase in the demand for clinical nutrition market. In Europe, there is an increase in the metabolic disorders which leads to increase in demand for clinical nutrition market. North America has also been witnessing a significant growth in the clinical nutrition market due to increase in a number of geriatric population and also due to increase in demand for junk food. Moreover, the Middle East and Africa and Latin America are also expected to show considerable growth in this market owing to the increased burden of diseases.
Some of the key players operating in the global clinical nutrition market are Abbott Laboratories Inc., Nestle Nutrition, GlaxoSmithKline, Danone, Mead Johnson, Baxter Healthcare Ltd., Fresenius Kabi AB, Nutricia, and B Braun Melsungen AG
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